HSBC is re-entering India's equity broking business after an absence of more than a decade, seeking to capitalise on a robust pipeline of share sales and rising demand from wealthy clients for equity market products, two people with direct knowledge of the matter said.
The move marks a reversal of HSBC's decision to exit the domestic retail brokerage and depository business in 2013 and underscores the growing importance of India's capital markets and wealth management industry to global banks.
